The Bank for International Settlements (BIS), the so-called central bank of central banks, believes that central bank digital currencies (CBDCs) are the key to innovating financial systems, and the private sector will play a major role in getting them to market, said Agustín Carstens, the head of the BIS. Carstens made the comments on Wednesday during his opening speech at the “Securing the future monetary system: cyber security for central bank digital currencies” conference in Basel, Switzerland. “The financial system is on the cusp of significant change,” Carstens said. “The digital revolution that has affected so m ... (full story)